Our popular Bank Account Verification service completely eliminates unnecessary risks in your payment processes.
With last month having marked the two-year birthday of one of pbVerify’s popular verification tools, we thought we’d issue a little reminder of what it is that makes account verification so valuable.
pbVerify’s Bank Account Verification service launched in October 2014, with the goal of helping businesses and individuals dodge the dreaded risk associated with making payments. Since then, hundreds of customers have signed up and reaped the benefits.
Primarily, the tool completely eliminates unnecessary risks in payment processes by enabling you to confirm the account you are paying money into, is in fact the account of the business or individual you intend crediting. Apart from this, it also offers a host of other benefits:
- Reduce your admin load – Bank account verification gives you accurate data and account details, eradicating time and money wasted in the event of an erroneous payment.
- Easy to use – All you need is the account details, name and ID number of the individual, or the account details, business name and registration number of the business to be paid.
- Definite data – pbVerify’s Bank Account Verification tool provides you with all the information you need to positively verify the account in question.
- Account status – Our Bank Account Verification service allows you to determine the status of the account in question, i.e. whether it is currently active, open or closed and whether it has been open for more than three months.
- Third parties – This service is also available to third-party integrators via an API (application programming interface).
pbVerify’s Bank Account Verification tool is of great value to both businesses and consumers. For credit providers and other businesses that require a means of verifying the validity of a consumer or business’ bank account before making a payout, granting credit or activating debit orders, it is absolutely vital.
And, if you need the tool as an integrated service on your web-form or application layer, you’re in luck – we also offer full integration with any web service or software system via our XML SOAP API.
How it works
Quite simply, register for pbVerify here. Joining pbVerify is 100% free and without any obligations to use any of our services.
Once you have registered – a completely online process that involves submitting a form, an OTP (one-time pin) and email link – your login details will be sent to you via email. You can then go to the login page and enter your details to securely log in to pbVerify.
pbVerify can verify ownership of accounts at the following participating banks:
- ABSA (real time participant)
- FNB (real time participant)
- Standard Bank (real time participant)
- Nedbank (real time participant)
- Capitec Bank
- Mercantile Bank
To verify an account owner, simply follow these guidelines:
- Log in to pbVerify and select the By Product tab
- Look under the Company Verification heading and select Bank Account Verification
- Complete the fields and tick the T&C’s tick block
- Click Search
- In the left-hand column under the sub-heading “Bank Reports”, click on the Bank Account Verification tab.
- Click on the job and click Update Bank Account Search
- Download file to view your report
The following return information will be displayed in the report:
- Branch Code: XXXXXX
- Account Number: *******XXXX
- Account Type: Current Account/Savings/Unknown
- ID Number/Business Reg: XXXXXXXXXXXX
- Initials: XXX
- Surname/Business Name: Sample Pty Ltd
- Bank Accepted File Sent? Y/N
- Bank Accepted Branch Code? Y/N
- Account Found at Bank? Y/N
- Account still open at Bank? Y/N
- Account open for longer than 3 months? Y/N
- Account Type Correct? Y/N
- ID Number Matched? Y/N
- Names Matched? Y/N
- Account accepts Debits? Y/N
- Account accepts Credits? Y/N
View pricing under “Bank Services” here.